Summited by a member
The pinheads in the House of Reps. make even White House look “smart!”
House passes bill to sue OPEC over oil prices
The House of Representatives voted 324-84 to approve legislation allowing the Justice Department to sue OPEC members for not pumping out enough oil. The White House has reportedly threatened to veto the bill.
“This bill guarantees that oil prices will reflect supply and demand economic rules, instead of wildly speculative and perhaps illegal activities,” said Democratic Rep. Steve Kagen of Wisconsin, who sponsored the legislation.
Just exactly what are the supply and demand economic rules in a political economy, Rep. Kagen of Wisconsin? I bet you don’t have a single clue what you are talking about.
Uncle Sam: I Want You, Your Oil, ‘n Your Money!
Uncle Sam’s Drinking Habits and the OPEC Dimwits
Lo and behold, the good ol’ lynch mob [the House of Representatives] is out to get someone: The bartender [OPEC], no less!
They are desperate to hang the bartender, not because he had Uncle Sam smashed out of his tiny head by giving him too much to drink; they are lynching him because he refused to serve more of “them devil’s brew” to the usual clientèle who would never leave the bar sober: The runaway economy, the corporations from hell and the rest of the morons who are so addicted to their waste-intensive lifestyles they wouldn’t know their sustainable energy sh*t from Shinola.
Weak dollar and inflation are eating out the heart of the system; the cars are getting thirstier than ever before [and a hell of a lot more of them hit the roads each day;] Mrs Rabbit is breeding too many bunnies, 3, 4, 5, 6, 7, 8 even 9 bunnies a throw; the bunnies diets are getting more exotic, they’d no longer settle for carrots; four times as many lambs air-cruise today as they did a decade or so ago; Exxon [Valdeez] Mobil and other oil monsters broke all their previous profit records.
But all of those factors put together couldn’t possibly play more than a minor part in the overall picture. They could probably account for 5-10 percent of the price rise. That’s child’s play when compared to the wholesale fleecing of an entire flock of marsupial boneheads by Wall Street speculators. How do they do it?
The oil price is rising rapidly because of the uncertainty created by the US military presence in the Gulf. The continued occupation of Iraq, the threat of war [true or false] against Iran and Syria [fed by the frenzy created by the free media, trusted journalist prima donna and venerable “ex-CIA” political activists] and the implied warning of a US military takeover in Saudi Arabia, in case their ruling regime loses favor with its own people, are the main drivers for the rapid price rise. [The perils of a possible regional war in South America, waged by US-backed Colombia against Venezuela, and fears of supply disruptions in Nigeria also help increase the uncertainty factor.] Who created the chaos in the first place? The Prez and the Congress, of course! And who is responsible for the rapidly rising oil prices? It is the OPEC, stupid!
Gotta strike while the iron is hot!
Who else can we sue, while the proverbial iron is still hot, Rep. Kagen of Wisconsin? I know, let’s sue the pants off the National Corn Growers Association. Just look at the mess they have created. So what they are producing overcapacity? It’s not enough! Look at price of corn, $6 dollars a bushel and there isn’t nearly enough of it going around to feed the poor. [Stay clear of any absurd argument about the obscene amounts of grains wasted to produce ethanol. Why, don’t you drive a car? Start with the ethanol and you’ll end up in a feedlot looking a red heifer in the eye.]
Uncle Sam Supplying the World with Berry Brothers Hard Oil Finish, chromolithographic print c. 1880.
OPEC: Damned if they do; damned if they don’t!
It’s very difficult to sympathize with some of the OPEC members, for example, Saudi Arabia. But to blame OPEC for the inebriated Uncle Sam’s bladder mishaps goes an extra mile and a half beyond the Reps. standard milestone of hypocrisy.
In the first three months of 2008, the five companies Exxon Mobil, ConocoPhillips, Shell Oil, Chevron and BP America earned $36 billion.
Exxon [Valdeez] Mobil made a profit of $1,504 per second in the first quarter of 2008. That’s stealing an additional 43 cents a day [each and every day] from each US citizen [woman, man and child,] thanks to Wall Street speculators. But even Exxon knows that level of corporate racketeering is unsustainable. That’s the stuff riots are made of.
Do the Reps. dare upset their old paymasters, the oil monsters like Exxon? Of course not. Can they afford to point a finger at Wall Street? Not a chance. Or mess with their own future by saying something stupid like healthy economy, renewable energy, or other scary stuff like that? No way!
The ol’ lynch mob have eyed their “nigga,” and are about to unleash the bloodhounds.
With a bunch of remarkable idiots making moronic queen-of-hearts laws for the greatest flock of sheeple on Earth, is it any wonder the world is teetering precariously on the brink of catastrophe?
What Others Say
[ Updated May 24, 2008 ]
JOAN CLAYBROOK, president of Public Citizen, said: “You are paying sky-high prices at the gas pump because the barons of ‘big oil’ have bushwacked the American people. With the help of major league lobbyists and the high-ranking politicians receptive to them, oil companies are earning enormous profits through a combination of anti-competitive practices — including market manipulation — made even easier by the wave of recent oil company mergers and the government’s outrageously weak regulatory oversight.
“Every time you buy gas, you know you are being price-gouged, but did you know that, for every gallon of gas you buy, you are being charged an extra 70 cents — at least — that is related purely to market speculation and not a function of supply-and-demand? The oil barons not only get away with this, they use their considerable influence to prevent the passage of meaningful fuel economy legislation, further squeezing consumers by ensuring automakers will continue to build gas-guzzling cars.”
Steve Kretzmann, Founder, Oil Change International, said: “In their testimony about high gasoline prices, top oil executives repeatedly ducked questions about gas prices, demanded access to more drilling, and could not tell Senators how much they earn. Not a single suggestion came from the oil executives that will lower gas prices. There’s a reason for that, which is that the only answer is one they don’t want to discuss — an urgent transition to renewable energy.
“We could drill every last inch of Alaska, the Rocky Mountains, and our coasts and it would barely make a dent in supply or prices. Congress needs to stop this political theater and get serious about the transition to renewable forms of energy. So far, they’re continuing to lavish the industry with billions in subsidies, while receiving millions from the industry in campaign contributions.”
Nadine Bloch, field director with Oil Change International, said: today: “I was arrested in the Senate hearing room yesterday for demanding a Separation of Oil and State. We can’t drill our way out of this problem. We need to get Big Oil money out of our Congress.” [Source]
Jeroen van der Veer, CEO, Shell, second largest oil monster in the world, said: “What we say and what we see is there are no physical shortages […] There are no tankers waiting in the Middle East, there are no cars waiting at gasoline stations because they are out of stock. This has to do with psychology in the markets and you cannot forecast psychology.” (Source)
[Update: May 28, 2008 ]
Deborah Fineman [via Ralph Nader,] president of Mitchell Supreme Fuel Co. in Orange, New Jersey: “Energy markets have been dictated for too long by hedge funds and speculators, who artificially manipulate the numbers for their own benefit. The current market isn’t based on the sound principles of supply and demand but it is being rigged by companies and speculators who are jacking up prices for their own greed.”
Harry C. Johnson [via Ralph Nader,] former banker and oil executive said, “some industry experts, who profit greatly from the high price of crude, and have stated openly that the worldwide economic price of crude, absent speculators, would be around $50 to $60 per barrel.
Ralph Nader: “Oil was at $50 a barrel in January 2007, then $75 a barrel in August 2007. Now at $130 or so a barrel, it is clear that oil pricing is speculative activity, having very little to do with physical supply and demand. An essential product—petroleum—is set by speculators operating on rumor, greed, and fear of wild predictions. “
“A sane government would drop all subsidies and tax loopholes for Big Oil’s huge profits and other fossil fuels and promote a national mission to solarize our economy to achieve major savings from energy conservation technology, retrofitting buildings, and upgrading efficiency standards for motor vehicles, home appliances, industrial engines and electric generating plants.
“Those are the permanent ways to achieve energy independence, reduce our trade deficit, create good jobs that can’t be exported and protect the environmental health of people and nature.
“Those are the reforms and advances that a muscular consumer, worker and small business revolt can focus on in the coming weeks.
“What say you, America?”
Possibly elated Links: